Economic downturn causes citizens to change priorities

by Midland Reporter-Telegram

Published 7:00 pm, Monday, May 24, 2010

The priorities of ordinary Americans can take wild swings depending on the state of the economy. That has been an obvious result following a grueling recession that began in 2007. Americans have obviously changed their priorities.

Lifestyles have markedly changed since the recession as people find ways to cut their budgets. Fortunately, there are signs the nation is climbing out of the recession story, but retail sales have not regained the foothold they held before the worldwide economic downturn.

You may not notice the difference around you because changes can often be subtle. In fact, you may be changing the way you do business without even realizing it. And so are people around you.

People are doing less of nearly everything. They are driving less, therefore not using as much gasoline in a year's time. People are traveling less. Vacation trips are shorter, closer to home. Sales of homes, cars, and appliances have plunged. Thermostats are going lower in winter and higher in summer. Americans are now less willing to go into debt than they were before the recession. They are cutting back on as many monthly payments as possible. They have also cut back on entertainment.

But it's not all about cutting back. According to U.S. News and World Report, Americans are unwilling to give up a few items in their lives. Portable computers keep selling like hotcakes. People also want to keep their Internet connections at all costs. They are watching more TV to take up the slack for dropping traditional entertainment venues like ballgames and concerts. While cell phones sales are slumping for the first time, smart phones sales have risen. Americans are also drinking more as they refuse to give up alcohol, but tastes have gone cheaper as high-end labels have felt drops.

Americans are no longer as fashion conscious as they were just three years ago as top-of-line fashion labels no longer carry the charm they once did. All across the nation cheaper is better. The shopping bargain is back in vogue.

We're not sure this is a bad restructuring of priorities. Americans are getting back to the things that make their lives meaningful. Stuff isn't as important as it once was. Now, if we can get government to do the things average Americans have been forced to do, we might actually be on the way back to real recovery from recession.